Hyundai Motor America said Friday that it would donate $16 million this year to fund 76 research projects on children’s cancers.Of that amount, $13.2 million will be donated this month to support a pediatric cancer awareness campaign in the US, said Jose Munoz, CEO of Hyundai Motor’s North America regional office.  As part of its community outreach efforts, Hyundai and its dealerships have participated in the Hyundai Hope on Wheels fundraising project since 1998 to fight pediatr

Introducing SK Group as a committed business in US, the group’s chief Chairman Chey Tae-won said the South Korean conglomerate would invest $10 billion in next three years in new growth engines.Chey accompanied by CEOs of SK’s subsidiaries, hosted an evening event in Washington on Thursday to present the future vision of the group and its investment plan in US, officials said.  Held in its office there, SK Night attendees included Karen Kelly, deputy secretary of Department of C

The head of South Korea’s largest organization representing small and large businesses alike on Wednesday expressed concern that a nationwide drive to overcome economic risk by nurturing new industries and promoting deregulation has been losing its steam despite growing negative signs pointing to a possible economic recession.“Even though we are standing at a time when we have to do our best to overcome downside risks, it is regrettable to say that discussion on economic issues itsel

Hyundai Motor Group said Wednesday that it plans to install newly developed center-side air bags in its vehicles, without specifying the time frame or any model names.The group has two auto subsidiaries -- Hyundai Motor and Kia Motors.The center-side air bags, developed by in-house engineers, are intended to reduce injuries to drivers and front-seat passengers. This air bag prevents drivers and passengers from colliding during a crash and also protects a lone driver from the impact of glass frag

South Korea’s Mirae Asset Daewoo appeared on the Dow Jones Sustainability World Index last week for the eighth consecutive year in recognition of its sustainable management efforts, the company said Tuesday.  “We feel honored for obtaining recognition from a globally reputable institution over Mirae Asset’s sustainable management related activities such as social contribution, (improvement) in corporate governance, human rights, the environment and responsible investment,&

The nation’s antitrust watchdog has been zeroing in on whether it is legal for air carriers’ frequent flyer programs to allow mileage to expire within 10 years. According to lawmakers on Monday, Fair Trade Commission Chairperson Joh Sung-wook told lawmakers last week that the antitrust regulator is reviewing the legality of airline companies’ mileage policies revised in 2008. “In addition to conducting a review on whether the policies have been unfair, we will come up wit

Fiat Chrysler Automobiles Korea, a local importer and distributor of the Italian-American auto brands, held a two-day event in Pyeongchang, Gangwon Province, offering a unique off-road experience with its signature Jeep.Held Sept. 7-8 at the famous ski resort Phoenix Pyeongchang, the 65-year-old festivities embodied the US brand’s adventurous spirit, the company said. This was the 14th consecutive year in which Fiat Chrysler held a Jeep Camp in South Korea, and it invited 300 teams with 1,

The first hydrogen-refilling station in the world to be built in a national legislature opened in Seoul on Tuesday, marking a step forward in the nation’s vision of creating a hydrogen economy.It is the first commercial hydrogen facility built in central Seoul, as well as the first case of the regulatory sandbox that lifted administrative hurdles to promote the use of hydrogen as traffic fuel, Hyundai Motor said in a statement.The H2 station was built by the South Korean carmaker, dubbed a

For the past 15 years, the Busan-Jinhae Free Economic Zone in South Gyeongsang Province has succeeded in developing infrastructure and creating a suitable business environment for investors. And now is the time to seek a paradigm shift by nurturing innovative technologies and easing regulations for the growth of new industries, its new chief said. In an interview with The Korea Herald, BJFEZ Commissioner Ha Sung-cheol said he seeks to attract companies specialized in manufacturing high value-add

Unionized workers at GM Korea said Friday they have decided to stage a full-time walkout for three days next week in protest against the rejection of their demands during wage negotiations with the management.This is the first time GM Korea workers will stage all-out protests, after the US carmaker acquired now-defunct Daewoo Motor in 2002.The union said it has 8,000 members from GM Korea and also 2,000 workers at GM Technical Center Korea. GM Korea currently has around 13,000 employees. Leaders

Coupang, a leading e-commerce platform, said Friday it has launched a special sales event for a massive number of bedding items for the fall and winter seasons.Its online bedding store offers 1.2 million bedding products in 12 categories -- blankets, beddings, indoor bed tents, electric blankets and carpets.The main page of the category displays a fully furnished bedroom decorated with products so that customers can easily pick products of their choice.  “Coupang newly introduced the

SsangYong Motor’s Korando has received the top safety rating from the European New Car Assessment Program, the company said Friday.The sport utility vehicle garnered five stars in all four categories, proving it has an excellent drive assist program and can protect passengers and pedestrians effectively, it added. “By securing various safety features such as Deep Control system, state-of-the-art vehicle control technology and the (greatest) number of air bags (in South Korea), Korand

In celebration of the Chuseok holiday, Han Sung Motor, the largest official dealer of Mercedes-Benz in South Korea, is holding a promotional event for customers purchasing the GLC or the E-Class this month, the company said Friday. Each of these customers will receive a Mercedes-Benz trolley bag and the chance to enter a lucky draw. Fifty winners will receive invitations to Han Sung’s annual Oktoberfest event at the Grand Hyatt Seoul next month. The company also plans to hold a separate ev

Kia Motors, sister company to Hyundai Motor, has hired Karim Habib, former designer for BMW and Infiniti, to fill an executive position at its design center. The Canadian designer built his career at BMW, Mercedes-Benz and Infiniti.At Infiniti, he worked on design projects including the electric vehicle concepts QX Inspiration and Prototype.Habib will work with Luc Donckerwolke, the former Bentley designer currently in charge of vehicle design for both Kia and Hyundai, the company said.By Cho Ch

YEONGJONGDO, Incheon -- Kia Motors’ premium large sport utility vehicle Mohave has returned with a revamped look and high-tech features, along with an aim to sell 20,000 vehicles a year. The face-lifted SUV has already received 7,000 preorders in 11 days, according to Kwon Hyeok-ho, vice president of Kia Motors on Thursday.Styled as an urban vehicle, the Mohave face-lift embodies the carmaker’s future design direction built on its traditional frame body, he said. The number of preord

SOKCHO, Gangwon Province -- Targeting a young market that is led by Hyundai’s first large sport utility vehicle the Palisade, GM Korea on Wednesday launched the Chevrolet Traverse, highlighting its “aggressive” price strategy, quality features and American heritage.Introducing the vehicle as a “super SUV,” the carmaker said the Traverse will expand the choice of Korean customers wanting to experience premium outdoor activities with driving convenience. The three-row

Unionized workers and the management at Hyundai Motor reached an agreement early Tuesday on this year’s wages, after the union voted not to stage sit-in protests amid intensifying uncertainties over the business environment and the local auto industry. In a vote held Monday, 56 percent of Hyundai Motor workers approved a revised wage and collective bargaining deal, according to the union. The union formally approved the management’s proposal without a strike for the first time in eig

The only son of CJ Group Chairman Lee Jay-hyun is under investigation on charges of smuggling liquid marijuana, putting the brakes on the food-to-entertainment giant’s succession plan.Lee Sun-ho, the heir-in-waiting of CJ Group, the 14th-largest conglomerate here, was allegedly caught by the customs service at Incheon Airport on Sunday attempting to smuggle liquid marijuana in cartridges into the country. The case was transferred to the Incheon District Prosecutors Office, authorities said

LG Chairman Koo Kwang-mo on Thursday stressed the importance of securing competitiveness in the development of new materials and components to ensure the group’s future growth, the company said. During a visit to LG Chem’s research and development unit in Daejeon, some 120 kilometers south of Seoul, Koo asked the company’s employees to jump into challenging R&D projects instead of focusing on mere short-term goals, to create “truly innovative value for customers.&rdqu

Marking the first case of a Korean conglomerate bringing its overseas manufacturing facility back home, Hyundai Mobis said Wednesday it will build a new plant to produce electric vehicle components in Ulsan, injecting 300 billion won ($247 million) in fresh investments.The new plant will be capable of producing core EV parts for 100,000 vehicles a year, with its operation starting in 2021, the company said.The auto parts maker’s decision of making a “U-turn” investment raises h